Wow, gold is on a rocket….but eventually the rocket fuel runs out. Have you noticed all the gold commercials on TV? On the business channels like CNBC, FBN and Bloomberg, they are trying to sell us coins and bullion. On “regular” channels they want to buy all our chains, bracelets, rings and teeth. So…do you think we’re in the middle of a gold bubble?
Y’know, the SEC could announce a circuit breaker rule soon, but why not instead reinstate the uptick rule and stop the naked shorts from manipulating the markets? But nooo, that would upset all the big boys on the playground…
DRYS and CSCO reported after hours. Neither had blowout reports and both are trading below today’s close, but not in the red…yet. CSCO could weigh on the QQQQ and Nasdaq and all the techs. Tech and banks have been leading the past couple days, so I’d like to see that continue.
We’re going to have to test the 200ma or at least get close to a recent low before we go to much higher, so I’m keeping a close watch on the inverse ETFs like: TZA BGZ TYP FAZ SDS. Play these on a short term and/or to protect some of your long positions.
Futures mildly unexciting this evening, hanging around where they closed, plus or minus a point or two. Initial claims on Thursday better continue to the upside. The slightest news, good or bad, could move this market in either direction. 
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
